ICICI Pru Cash Advantage Plan

ICICI Pru Cash Advantage scheme offers policyholders the opportunity to meet financial requirements such as medical expenses of dependent parents, education needs of children and so on. This comprehensive scheme aids the insured in building his/her savings corpus. There are unique benefits offered under this savings and protection based plan.


Benefits of ICICI Pru Cash Advantage

  • The insured gets a guaranteed amount at the time of maturity of the policy.
  • The insured will receive a guaranteed amount as payout for 10 years after the premium payment term.
  • Life cover is offered to the insured during the tenure of the policy.
  • The insured can choose the premium payment term from a choice of 5, 7 or 10 years.

Key Features of ICICI Pru Cash Advantage

Death Benefit The death benefit offered under this policy is the Sum Assured + Reversionary Bonus + Interim Bonus + Terminal Bonus; Or Guaranteed Maturity Benefit (GMB) + Reversionary Bonus + Interim Bonus + Terminal Bonus; Or Minimum Death Benefit, whichever is the highest.
Cash Benefit

On a monthly basis the guaranteed cash benefit paid out to the insured after the premium payment term is 1% of the Guaranteed Maturity Benefit (GMB).

On an annual basis the guaranteed cash benefit paid out to the insured after the premium payment term is 11.5% of the Guaranteed Maturity Benefit (GMB).

Maturity Benefit The maturity benefit offered under this policy is the Guaranteed Maturity Benefit (GMB) + Reversionary Bonus + Terminal Bonus (if any); Or 100.1% of the premiums paid so far less the Guaranteed Cash Benefit (GCB) received, whichever is the highest.
Policy Term

The policy term consists of the premium payment term + the payout term.

For 5 year premium payment term – 15 years

For 7 year premium payment term – 17 years

For 10 years premium payment term – 20 years

Mode of Premium Payment Premium can be paid on a monthly, half-yearly or annual basis.
Mode of Cash Benefit Cash Benefit will be paid out either on a monthly basis or an annual basis.

Eligibility Criteria for ICICI Pru Cash Advantage

Maximum age at entry 60 years
Minimum age at entry

For 5 year premium payment term – 3 years

For 7 year premium payment term – 1 year

For 10 years premium payment term – 0 years

Minimum age at maturity 18 years
Maximum age at maturity 80 years
Payout term 10 years
Minimum annual premium

For 5 year premium payment term – Rs. 30,000

For 7 year premium payment term – Rs. 18,000

For 10 years premium payment term – Rs. 12,000

How the ICICI Pru Cash Advantage Plan Works

The life assured must choose the premium amount, premium payment option and mode, sum assured and the mode for receipt of cash benefit, at the time of policy inception. Once these details are finalized, the Guaranteed Maturity Benefit (GMB) and the Guaranteed Cash Benefit (GCB) will be calculated. Age and gender are other factors that will affect the determination of these benefits. In this ICICI Prudential Life plan Guaranteed Cash Benefit will be paid out after the premium payment term is over.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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